Oil outlook 'subdued' despite rally: RBC expert: "U.S. crude oil prices rallied nearly 3 percent Tuesday on geopolitical tensions in the Middle East after Turkish fighter jets shot down a Russian warplane.
But over the next year, oil price increases are expected to be more subdued, barring a supply disruption, Helima Croft of RBC Capital Markets told CNBC's "Closing Bell" on Tuesday.
"You're up against a wall of inventory, that is the problem in terms of moving higher," Croft said. "Its a recovery, but not a recovery to prices that can keep many Middle Eastern countries flush. Even at a $58 average, so many of these countries are circling the drain in terms of their finances. ""
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